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Platforms are somewhat shielded from liability for user provided content. How does that work for IPFS?

Should be okay if you're in the US. I wouldn't want to host in other countries unless I was a lawyer.

(Where "okay" means "you may get subpoenas you have to answer.")

Isn't IPFS untraceable to a specific machine or IP? I thought that was the whole point.

IPFS does nothing to hide who is hosting data. It's pretty much like bittorrent in that regard.

So, what is the advantage over BitTorrent then